AbbVie (ABBV) licensed the anti-IL-6R Nanobody, ALX-0061,
from Ablynx, a Belgian company, for the treatment of inflammatory diseases.In February, Ablynx reported that in a Phase 2a clinical
study of ALX-0061 showed promising results and the drug was well tolerated by
the 37 RA (rheumatoid arthritis) patients who took the drug over the course of
24 weeks with methotrexate. The drug is delivered by intravenous
administration.The deal is part of AbbVie's effort to reduce its dependence on
Humira, which currently delivers the lion's share of the company's revenue.
The deal with Ablynx is worth more than $840 million. This
includes an upfront payment of $175 million and additional payments of up to
$665 million on the achievement of development, regulatory, commercial and
sales-based milestones. Ablynx is also entitled to double-digit tiered
royalties on sales upon commercialization. Read
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